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| Frequently Asked Questions |
At Online Harness Owner, keeping both our prospective and current clients fully informed is of great importance. In an effort to ensure this, we will answer any questions you have in regards to all things Online Harness Owner. If you have a question that you do not find an answer for below in our FAQ, please feel free to contact us or post your question on our forum. On average you can expect an answer within one business day.
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Sign-up today and become an owner in a matter of minutes.
Take an interactive look at how ownership with OHO works.
Read more about how to become an owner.
See how little ownership with OHO really costs.
Book a visit today and see your horse up close.
Find out about joining us in the winner's circle.
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If your horse wins a race, you are definitely allowed to be in the winner's circle photo. We encourage you to bring along any friends or family as well.
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If a claim is entered on your horse, you will receive your percentage of your share owned within the claim. For example, if you own 1 share (5%), you will get 5% of the claim. From this a 5% fee is charged for management and administrative costs for the sale. If you wish to let us keep your money in escrow until another horse is purchased or to transfer your funds towards another horse that we own, we will gladly do this for you. Or, if you would like your money back, we can issue you a cheque in return. Also, if at any time you wish to sell your share, you may post it for sale on the forum for others to view. It's not guaranteed that if you post a share for sale, that it will sell, but if you do sell a share in this way the 5% sale fee will be charged. The sale will not go through until the buyer has sent a cheque to OnlineHarnessOwner.Com Inc, at which time the sale will be final, and the amount of the sale minus the 5% sale fee will be deposited into your account.
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Yes. The horse is under the stable name OnlineHarnessOwner.Com, but you will actually own a percentage of the horse that you own shares in. By purchasing a share off of OnlineHarnessOwner.Com you are agreeing to give all management control to us so we can better manage the horse. If you own more than 5% of our entire stable you are required to register with the ORC before we can allow you to own that amount of shares.
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The winner of a race receives 50% of the particular race's purse. For example, a horse who wins a race for $20,000 will receive $10,000. The trainer and driver each get 5% of that money, and a 5% management fee is also taken off, so we are left with 85% of $10,000 ($8,500). Then we divide this amount by the number of total shares, which is 20. We are then left with $425 per share.
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The biggest reason why harness racing is such a great investment is because of the potential for a very high return-on-investment. When your horse wins a race you will usually receive between 30-50% of your investment back immediately from that win. But on top of this huge short term return, your horse's value will also rise. It is not uncommon for a horse to be claimed one week, and be worth twice as much only one week later. There is also potential for a horse to lose value, so harness racing is a high risk investment. This can be overcome by spreading your investment out among many horses instead of just buying a larger share in only a few horses.
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This fee is charged to pay for the costs of keeping the horse. The expenses include feeding and training costs as well as many other small costs like transportation to the races and vet bills. This fee will always be a constant rate to be paid at the end of each month. You will receive your cheque with any earnings with a statement of your training bill if your earnings exceed your bill. However, if your purses do not exceed the monthly training bill, you will receive a bill of the amount due. The amount of the monthly fee will be displayed on the page where you purchase shares as well as in the horse's information page.
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Monthly fees are charged on the first of the month to pay for that month’s expenses. If on the first of the month your account balance is too low to cover the fees you will receive a notice by e-mail to add more money to your account. You will have until the 7th day of that same month to add enough funds to your account or your shares will be forfeited. We strongly suggest that you keep a sufficient level of funds in your account to avoid having to drop your shares as we are unable to extend a longer period of grace on late payment for monthly fees. If your account balance is sufficient to cover the fees they will automatically be subtracted from your account with no hassle to you.
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There are many ways in which you can see the races without actually being at the track. You may go to a local teletheatre where the races are shown, and are also able to bet on the races from there. Also, if you check the links section on this website you will find links to video streaming for certain tracks. Not all tracks are available to be watched online, but the main ones are. To watch Woodbine online you must be a HorsePlayerInteractive member.
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Currently, the only way to depost funds is through cheque or money order. In a few weeks, credit card payments will become available.
Make all cheques payable to Online Harness Owner Inc. and mail them to:
10700 Concession 5
Uxbridge, Ontario L9P 1R1
Canada
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